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Revenue Recognition Method adopted by Red Hat India can't be disturbed when duly supported by Mandate of AS-9: ITAT deletes Addition imposed by AO [Read Order]

Sunayana Dhal

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the revenue recognition method adopted by Red Hat India Pvt ltd. cannot be...

Claim on Loss of Sale of Discarded Assets Rejected due to Invalid Filing of Income Tax Returns: ITAT...

Interest u/s 234C Against EY Global Delivery to be Levied on Returned Income not on Assessed Income:...

ITAT deletes Addition on account of Bad Debts claimed in Profit and Loss Account [Read Order]

Interest Income from Co-operative Bank Credited to Reserves in Balance Sheet Eligible for Deduction...

Basic Condition as Stipulated under Section 271(1)(c) not been Fulfilled: ITAT Deletes Penalty [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on finding that the basic condition as stipulated under Section 271 (1) (c) is not fulfilled,...

Non-Application of Mind by AO: ITAT quashes Income Tax Penalty u/s 271(1)(c) [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that penalty under section 271 (1) (c) cannot be imposed by AO, by non-application of mind. ...

Setback to Deutsche India: ITAT confirms Disallowance on Delayed Payment of Employee’s Contribution to Provident Fund [Read Order]

In a major setback to Deutsche India Pvt Ltd, the appellant, Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ), confirmed the disallowance on delayed payment of the employee’s contribution...

Income Tax Deduction Claim u/s 80IA cannot be denied for Vague and Ambiguous Reasons: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench, has recently, in an appeal filed before it, held that income tax deduction claim u/s 80IA cannot be denied for vague and ambiguous reasons. ...

Addition of Deemed Rent cannot be made in respect of a Non-Habitable Residential Flat: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench, has recently, in an appeal filed before it, held that addition of deemed rent cannot be made in respect of non- habitable residential flat. ...

Addition to Difference in Stock as per Books and Valuation Report can't be made without Credible Evidence: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that an addition on the difference in stock as per books and valuation report can't be made without credible evidence. The...

Statutory Provisions of S. 244A of Income Tax Act cannot be Altered by CBDT Circular: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that statutory provisions of S. 244A of the Income Tax Act cannot be altered by CBDT circular. ...

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